The Dream...

The dream of homeownership has always been at the very heart of the “American Dream”. We believe that homeownership is the foundation of financial security for aspiring families. At Residential Bancorp, we help you navigate the mortgage process with our core values of Integrity, Experience and Service; and help you realize the American Dream.
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Various types of loan programs

FHA Loans
The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories.

Conventional Loans
A conventional loan is a loan backed by either Fannie Mae or Freddie Mac, the two entities which comprise the Federal Housing Finance Agency (FHFA). More than half of all new mortgage loans are conventional loans, which include special mortgage programs such as the HomeReady™

VA Loans
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

Additional Programs

Government Programs:

  • FHA Loans
  • VA Loans
  • 203k Limited
  • 203k Standard
  • USDA
  • Manual Underwriting – Exception
  • DACA & ITIN Loans

Conventional Loans:

  • FNMA / FHLMC Conventional
  • Renovation Loan
  • HomeReady
  • Home Possible

Jumbo Loans:

  • Manual Underwriting
  • Exceptions

Down Payment Assistance

  • GSFA Platinum
  • Chenoa
  • Other programs

Non Prime Loan Programs

  • Non-QM Loans
  • Bank Statements
  • Alternative QM Loans
  • Investor Loans

Common Program Highlights*

FHA Loans
• 3.5% down payment
• Gift funds allowed
• Down Payment assistance programs

VA Loans
• 100% financing
• NO VAFF if borrower exempt
• Gift funds allowed

• Available with Conventional, FHA, VA
• Assistance with Down pymnt & closing Costs
• Low to moderate income families

• Documentation per AUS
• LTV up to 89.99% (impounds required)
• First time homebuyer allowed

• Available with Conventional & FHA
• Assistance with Down pymnt & Closing Costs
• Allows for minimal borrower contribution

Conventional Loans
• 3% down payment option
• Gift funds allowed owner occ/ 2nd home
• Down payment assistance programs

*All loan programs, terms and interest rates are subject to change and/or discontinuance without advance notice.

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